Bitcoin Miners earned over $500 million in November

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Kataryna Habeliia December 3, 2020

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Bitcoin Miners earned over $500 million in November

In November, the profitability of bitcoin mining significantly increased, the analysts of The Block came to this conclusion.

At the end of last month, miners earned about $ 521 million. Compared to October figures, bitcoin miners were able to get a higher income in November. Its growth was 47.9%, the researchers noted.

Recall that in October, miners’ income reached $ 352.57 million. The increase in income for mining a block in the BTC network is observed against the background of the growth in the value of the largest cryptocurrency.

Bitcoin Miners income from transaction fees

Additionally, miners receive funds in the form of transaction fees. In November, the total commissions amounted to almost $ 55 million. Analysts found out that about the same income of bitcoin miners was observed in January 2018.

Daily income from BTC mining also increased significantly in the last month. According to the Glassnode platform, for example, on November 18, in one day, miners received $ 21.1 million. Mining profitability returned to the values observed before the so-called May halving (reduction in the reward for mining a block).

The bitcoin hash rate in the middle of this week has grown to 132 exaches per second (EH / s). According to Blockchain.com, on December 2, the total revenue of miners was almost $ 18.3 million.

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